MIRA
INFORM REPORT
|
Report Date : |
19.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
SCA HYGIENE PRODUCTS INDIA PRIVATE LIMITED |
|
|
|
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Registered
Office : |
Rajan House, 1st Floor, Appasaheb Marathe Marg, Prabhadevi,
Mumbai – 400025, |
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Country : |
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|
|
Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
28.05.2012 |
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Com. Reg. No.: |
11-231579 |
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Capital
Investment / Paid-up Capital : |
Rs. 9.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17253MH2012FTC231579 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS74505E |
|
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PAN No.: [Permanent Account No.] |
AARCS7221F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Importing, Exporting, Manufacturing,
Producing, Marketing and generally dealing in baby care products, feminine
care products, incontinence care products, tissue products etc. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 460000 |
|
|
|
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “SCA GROUP HOLDING – B.V. NETHERLANDS”. It
is a relatively new company having moderate track. The company has recently commenced its limited business operations in
India and is in its phase of business development. The parent company of the subject is a globally well-established
entity with established brands and has forayed into Indian market through its
subsidiary i.e. the subject, primarily with its four most renowed brands such
as Libero, Tempo, Tena and Tork. Management has reported a loss from its first year of business
operations, but enjoy’s a firm support from its promoters. Trade relations are improving. Business is active. Payment terms are
reported as slow but correct. In view of established brand name in the international market, the
company can be considered for business dealings with slight caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the GDP
of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets including
equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Rohan Sardesai |
|
Designation : |
Accountant |
|
Tel. No.: |
91-22-49203500 |
LOCATIONS
|
Registered Office : |
Rajan House, 1st Floor, Appasaheb Marathe Marg, Prabhadevi,
Mumbai – 400025, Maharashtra, India |
|
Tel. No.: |
91-22-49203500 |
|
Fax No.: |
91-22-49203505 |
|
E-Mail : |
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|
Website : |
DIRECTORS
AS ON 24.09.2013
|
Name : |
Mr. Darius Erachshaw Udwadia |
|
Designation : |
Director |
|
Address : |
Empress Court 142, M - Karve
Road, Mumbai – 400020, Maharashtra, India |
|
Date of Birth/Age : |
27.09.1939 |
|
Date of Appointment : |
28.05.2012 |
|
DIN No. : |
00009755 |
|
|
|
|
Name : |
Mr. Milind Ramchandra Pingle |
|
Designation : |
Managing director |
|
Address : |
A 203, Kings Corner Building, Opposite Victoria Church Road,
Mahim, Mumbai – 400016, Maharashtra,
India |
|
Date of Birth/Age : |
28.08.1965 |
|
Date of Appointment : |
01.07.2013 |
|
DIN No. : |
02139018 |
|
|
|
|
Name : |
Mr. Anthony Gaston Richard Van Luchem |
|
Designation : |
Director |
|
Address : |
Reiherweg – 6, 81827 Munchen, Munich – 81827, Germany |
|
Date of Birth/Age : |
07.02.1966 |
|
Date of Appointment : |
28.05.2012 |
|
DIN No. : |
05265032 |
KEY EXECUTIVES
|
Name : |
Ms. Anamika Gupta |
|
Designation : |
Secretary |
|
Address : |
Lane Opp Good Shephard Church, 4 Bungalows, Andheri (West), Mumbai –
400053, Maharashtra, India |
|
Date of Birth/Age : |
26.11.1979 |
|
Date of Appointment : |
28.11.2013 |
|
PAN No.: |
AGYPG2203M |
|
Name : |
Mr. Rohan Sardesai |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 24.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
SCA Hygiene Holding AB, Sweden |
|
1 |
|
SCA Group Holding BV, Netherlands |
|
5260000 |
|
|
|
|
|
Total |
|
5260001 |
AS ON 16.12.2013
|
Names of Allottee |
|
No. of Shares |
|
|
|
|
|
SCA Group Holding BV, Netherlands |
|
3950000 |
|
|
|
|
|
Total |
|
3950000 |
AS ON 24.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importing, Exporting, Manufacturing,
Producing, Marketing and generally dealing in baby care products, feminine
care products, incontinence care products, tissue products etc. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
|
|
|
|
Bankers : |
Not Divulged |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Price Waterhouse and Company (Approximately) |
|
Address : |
5th Floor, Tower "D", The Millenia, 1 and 2 Murphy Road,Ulsoor, Bangalore – 560008, Karnataka, India |
|
Tel. No.: |
AADFP9359C |
|
|
|
|
Holding Company : |
SCA Group Holding BV, Netherlands |
CAPITAL STRUCTURE
AFTER 24.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,210,001 |
Equity Shares |
Rs.10/- each |
Rs. 92.100 Millions |
|
|
|
|
|
AS ON 24.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,260,001 |
Equity Shares |
Rs.10/- each |
Rs. 52.600 Millions |
|
|
|
|
|
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
900001 |
Equity Shares |
Rs.10/- each |
Rs. 9.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
|
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
9.000 |
|
(b) Reserves & Surplus |
|
|
(5.174) |
|
(c) Money received against
share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
|
109.999 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
113.825 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities
(Net) |
|
|
0.000 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
0.000 |
|
Total
Non-current Liabilities (3) |
|
|
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
0.000 |
|
(b) Trade payables |
|
|
34.945 |
|
(c) Other current liabilities |
|
|
333.553 |
|
(d) Short-term provisions |
|
|
0.000 |
|
Total
Current Liabilities (4) |
|
|
368.498 |
|
|
|
|
|
|
TOTAL |
|
|
482.323 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
5.137 |
|
(ii) Intangible Assets |
|
|
1.878 |
|
(iii) Capital work-in-progress |
|
|
5.036 |
|
(iv) Intangible assets under
development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
7.037 |
|
(e) Other Non-current assets |
|
|
0.000 |
|
Total
Non-Current Assets |
|
|
19.088 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
19.661 |
|
(c) Trade receivables |
|
|
0.000 |
|
(d) Cash and cash equivalents |
|
|
439.225 |
|
(e) Short-term loans and
advances |
|
|
2.906 |
|
(f) Other current assets |
|
|
1.443 |
|
Total
Current Assets |
|
|
463.235 |
|
|
|
|
|
|
TOTAL |
|
|
482.323 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
NA
|
|
|
Other Income |
|
|
NA |
|
|
TOTAL
|
|
|
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL
|
|
|
NA |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
|
(86.174) |
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
|
(86.174) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
NIL |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
|
|
( 95.75) |
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2013 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
(18.05) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
(0.76) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt
/Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.26 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by
Info Agents |
Available in Report (Yes / No) |
|
1] |
Year of
Establishment |
Yes |
|
2] |
Locality of the
firm |
Yes |
|
3] |
Constitutions
of the firm |
Yes |
|
4] |
Premises
details |
No |
|
5] |
Type of
Business |
Yes |
|
6] |
Line of
Business |
Yes |
|
7] |
Promoter's
background |
Yes |
|
8] |
No. of
employees |
No |
|
9] |
Name of
person contacted |
Yes |
|
10] |
Designation
of contact person |
Yes |
|
11] |
Turnover of
firm for last one year |
No |
|
12] |
Profitability
for last one year |
Yes |
|
13] |
Reasons for
variation <> 20% |
-- |
|
14] |
Estimation
for coming financial year |
No |
|
15] |
Capital in the
business |
Yes |
|
16] |
Details of
sister concerns |
Yes |
|
17] |
Major
suppliers |
No |
|
18] |
Major
customers |
No |
|
19] |
Payments
terms |
No |
|
20] |
Export /
Import details (if applicable) |
No |
|
21] |
Market
information |
-- |
|
22] |
Litigations
that the firm / promoter involved in |
-- |
|
23] |
Banking
Details |
No |
|
24] |
Banking
facility details |
No |
|
25] |
Conduct of
the banking account |
-- |
|
26] |
Buyer visit
details |
-- |
|
27] |
Financials,
if provided |
Yes |
|
28] |
Incorporation
details, if applicable |
Yes |
|
29] |
Last accounts
filed at ROC |
Yes |
|
30] |
Major
Shareholders, if available |
Yes |
|
31] |
Date of Birth
of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No
of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
No |
Note :
·
No Charges Exist for Company.
·
The register address of
the company has been shifted from C/O Udwadia Udeshi and Argus Partners,
Elphinstone House, 1st floor, 17 Murzban Road, Mumbai – 400001, Maharashtra,
India, to the present address w.e.f. 01.09.2012.
OPERATIONS
The company was incorporated on 28.05.2012
with a view to carry on business of importing, exporting, manufacturing,
producing, marketing and generally dealing in baby care products, feminine care
products, incontinence care products, tissue products etc.
This being a first year of the company, the
operations was limit to few transactions and limited activities. The company
has incurred net loss of Rs. 86.174 during the year under consideration.
FUTURE OUTLOOK
The Directors are hopeful of the growth and
the company will achieve better financial performance in the year 2013-2014.
FIXED ASSETES:
·
Furniture and Fixtures
·
Office Equipment
·
Air Conditioner
·
Telecommunication Equipment
·
Office Equipment
·
Computer
WEBSITE DETAILS
ARTICLE / PRESS RELEASE
World's 2nd largest baby diaper maker
steps into India
Swedish major has earmarked nearly Rs 200-cr investment over
next year-and-a-half
Companies such as Procter & Gamble, Kimberly Clarke and Unicharm, key companies in the Rs
4,000-crore baby diaper market in India, will now have to contend with one
more competitor in Swedish firm SCA Hygiene.
The world’s second-largest baby diaper maker will finally launch its brand
Libero in the country by next month in a bid to partake of the growth in one of
the world’s most promising consumer markets.
Cecilia Edebo, vice-president, consumer goods, SCA Hygiene Products India, said
the company had earmarked an investment of nearly Rs 200 crore over the next
year-and-a-half, to be used in setting up a plant at Ranjangaon, near Pune,
besides forming a sales & marketing team and in pushing its products in the
country.
Apart from Libero, which competes in most markets across the world with
P&G’s Pampers, Kimberly Clarke’s Huggies and Unicharm’s Mamy Poko
Pants, will also roll out products such as Tena, which operates in the
adult diaper and hygiene market, and Tempo, the world’s largest consumer tissue
brand.
Tork, which is into hand sanitisers and other hygiene products in the
institutional segment, has been operational in India for a few years now
through the import route.
Edebo says that the 9.8-billion-euro (or Rs 85,000 crore) company will
for the next few quarters import most of its products into the country till its
plant comes on upstream. “By early 2015, our manufacturing facility should be
up and running,” Edebo says.
The company has already appointed a managing director for its India
operations in Milind Pingle, an FMCG veteran, who has worked with companies
such as Coca-Cola, Perfetti Van Melle, Godrej & Boyce and Wipro Consumer
Care In a career spanning 25 years.
The Mumbai-headquartered company, Edebo says is also looking at acquisitions in
the hygiene and consumer tissue segments in India, in a bid to catch up with
rivals, who have long established their presence here.
Globally, SCA has scaled up quickly by using acquisitions as a means to achieve
this. In neighbouring China, for instance, SCA has just announced that it would
make a cash bid for control of the third-largest tissue maker there called
Vinda. SCA already has a 21.7% stake in the Chinese company, which it acquired
in 2006.
To beef up its presence in diapers, SCA last year acquired another Chinese
company called Everbeauty, a key player In the space. It also acquired one of
Europe’s leading tissue makers called Georgia Pacific last year, which gave it
access to countries in the West Asia and Africa.
The push into emerging markets, Edebo explains, is part of SCA’s larger goal of
growing its presence in these areas, which currently are not very significant
contributors to the company’s overall turnover. Bulk of SCA’s revenues come
from Europe and North & South America respectively. “In the last two years,
however, we have identified West Asia, Africa and India as important markets
and have set up a regional base in Istanbul, Turkey as part of this endeavour,”
Edebo says.
India MD Pingle reports in to Thomas Wulkan, president of the SCA
business unit for West Asia, Africa and India, who was appointed to the
position in November 2011 as part of the restructuring exercise in the company.
SCA INVESTS IN INDIA
Stockholm, September 12, 2013
SCA will invest about SEK 150m in local
production of hygiene products in southwest India. Production at SCA’s own
plant is planned to commence in 2015.
“This investment creates a solid platform for us
to leverage the favorable growth opportunities that exist in the hygiene
products area in India. The investment is in line with our strategy of
strengthening SCA’s presence in emerging markets,” says Jan Johansson,
President and CEO of SCA and continues:
“India’s large population and the low
penetration of hygiene products provide the potential for future growth. The
aim is to introduce SCA’s hygiene products in the Indian market already in the
latter part of 2013.”
The brands that SCA intends to launch in the
Indian market include the world-leading brands TENA, for incontinence products,
and Tork, for Away-From-Home (AFH) tissue. The Libero brand for baby diapers
and baby care products and Tempo for consumer tissue will also be introduced.
CMT REPORT (Corruption, Money Laundering
& Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.06 |
|
|
1 |
Rs.101.84 |
|
Euro |
1 |
Rs.81.56 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
NB |
New Business |
|
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.